Elefante Mark B Has $2.93 Million Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• Elefante Mark B increased its stake in Advanced Micro Devices, Inc. (AMD) by 23.2%, now holding 28,516 shares valued at approximately $2.93 million, making it the firm's 21st largest investment.
• Analyst reports show a positive outlook for AMD, with several firms raising their target prices, including a boost from Bank of America to $175.00, and a consensus target price of $154.68.
• Advanced Micro Devices has announced a $6 billion share repurchase program, indicating management's belief that the company's shares are undervalued.

Elefante Mark B lifted its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 23.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,516 shares of the semiconductor manufacturer's stock after purchasing an additional 5,375 shares during the period. Advanced Micro Devices makes up about 2.3% of Elefante Mark B's investment portfolio, making the stock its 21st biggest position. Elefante Mark B's holdings in Advanced Micro Devices were worth $2,930,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Greenline Partners LLC acquired a new position in Advanced Micro Devices in the fourth quarter valued at approximately $28,000. Mpwm Advisory Solutions LLC acquired a new position in Advanced Micro Devices in the fourth quarter valued at approximately $30,000. Summit Securities Group LLC acquired a new position in Advanced Micro Devices in the fourth quarter valued at approximately $31,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings in Advanced Micro Devices by 277.8% in the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 272 shares of the semiconductor manufacturer's stock valued at $28,000 after buying an additional 200 shares during the period. Finally, American Capital Advisory LLC lifted its holdings in Advanced Micro Devices by 90.3% in the first quarter. American Capital Advisory LLC now owns 274 shares of the semiconductor manufacturer's stock valued at $28,000 after buying an additional 130 shares during the period. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,998 shares of the firm's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $155.03, for a total value of $2,790,229.94. Following the transaction, the executive vice president directly owned 1,713,710 shares of the company's stock, valued at $265,676,461.30. This trade represents a 1.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is owned by company insiders.

Advanced Micro Devices Stock Performance

Advanced Micro Devices stock traded up $6.29 during midday trading on Monday, hitting $172.76. The company's stock had a trading volume of 46,602,945 shares, compared to its average volume of 43,547,840. Advanced Micro Devices, Inc. has a 1-year low of $76.48 and a 1-year high of $174.70. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.80 and a quick ratio of 1.97. The company has a 50-day moving average price of $132.24 and a two-hundred day moving average price of $114.41. The company has a market cap of $280.11 billion, a price-to-earnings ratio of 127.03, a PEG ratio of 2.20 and a beta of 2.05.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.03. Advanced Micro Devices had a net margin of 8.03% and a return on equity of 8.30%. The business had revenue of $7.44 billion during the quarter, compared to analysts' expectations of $7.10 billion. During the same quarter in the previous year, the company earned $0.62 EPS. The business's revenue was up 35.9% on a year-over-year basis. As a group, sell-side analysts predict that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Advanced Micro Devices declared that its board has approved a stock repurchase plan on Wednesday, May 14th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to purchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

AMD has been the subject of several recent analyst reports. Loop Capital lowered their target price on shares of Advanced Micro Devices from $175.00 to $140.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Benchmark reaffirmed a "buy" rating and issued a $170.00 target price on shares of Advanced Micro Devices in a research note on Friday, June 13th. HSBC raised shares of Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $200.00 target price for the company in a research note on Thursday, July 10th. Jefferies Financial Group upped their target price on shares of Advanced Micro Devices from $100.00 to $160.00 in a research note on Wednesday, July 16th. Finally, Seaport Res Ptn raised shares of Advanced Micro Devices to a "strong-buy" rating in a research report on Wednesday, April 30th. Eleven equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and five have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Advanced Micro Devices currently has an average rating of "Moderate Buy" and an average target price of $154.68.

Advanced Micro Devices Profile

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates through Data Center, Client, Gaming, and Embedded segments. The company offers x86 microprocessors and graphics processing units (GPUs) as an accelerated processing unit, chipsets, data center, and professional GPUs; and embedded processors, and semi-custom system-on-chip (SoC) products, microprocessor and SoC development services and technology, data processing unites, field programmable gate arrays (FPGA), and adaptive SoC products.